Revolut vs Monzo: Which Is Better in 2026?
Last updated: 13.06.2026
Revolut and Monzo are two of the UK's most popular app-based current accounts, but they appeal to quite different people. Revolut built its name on multi-currency spending and international transfers, offering accounts in over 150 currencies with competitive exchange rates. Monzo started as a budgeting-first bank, and today it holds a full UK banking licence backed by FSCS protection, with a reputation for outstanding customer experience and intuitive money management tools.
For most UK residents who want a reliable everyday account with excellent budgeting features and strong consumer protections, Monzo is the better overall choice. If you travel frequently or send money abroad regularly, Revolut's currency features become harder to ignore.
Monzo wins this comparison for most UK users. It holds a full banking licence, offers FSCS protection up to £85,000, scores higher in customer satisfaction surveys, and provides more generous free ATM withdrawals at £400 per 30 days versus Revolut's £200 per month on the free plan.
Head-to-head: Revolut Current Account vs Monzo Current Account
 Revolut Current Account | Monzo Current Account | |
| Rating | 4.0 /5 | 5.0 /5 |
| Monthly fee | £0/month (Standard Plan) | £0/month |
| Debit card | ✓ | ✓ |
| Credit card | ✗ | ✗ |
| Apple Pay | ✓ | ✓ |
| Google Pay | ✓ | ✓ |
| Cash withdrawal abroad | Free up to £200/month; then 2% | Free up to £400/30 days; then 3% (outside EEA) |
| Online account opening | ✓ | ✓ |
| Deposit protection | 85.000 | 85.000 |
| iOS app | ✓ | ✓ |
| Branches | ✗ | ✗ |
Winner by category
Both accounts are free to open and carry no monthly fee on their standard plans. Revolut Standard and Monzo's free tier each charge £0 per month. Where they differ is in premium upgrades: Revolut's paid plans start at around £2.99 per month (Plus) and go up significantly for Metal, while Monzo Plus starts at £5 per month. For a purely free account, the costs are effectively equal.
Both accounts issue a debit card and support Apple Pay and Google Pay. On the free plan, Monzo allows free ATM withdrawals of up to £400 every 30 days before a 3% charge applies outside the EEA, which is twice Revolut's free allowance of £200 per month (then 2%). For everyday UK spending and occasional abroad cash needs, Monzo's free withdrawal limit is meaningfully more generous.
This is where Revolut pulls ahead. The ability to hold and spend in 150-plus currencies, make fast international transfers at near mid-market rates, and access crypto and stock investing within one app gives Revolut a clear edge for internationally minded users. Monzo's budgeting pots and salary sorter are excellent for domestic money management, but the product is firmly UK-centric. Weekend FX markups and monthly fair-usage limits do apply to Revolut's free plan, so heavy currency users will want to weigh a paid tier.
Monzo holds a full UK banking licence and all customer deposits are protected by the FSCS up to £85,000. Revolut was granted a UK banking licence in 2024 and is in the process of migrating UK customers under it, but as of mid-2026 many UK accounts remain under an e-money institution structure where funds are held in safeguarding rather than covered by FSCS. If FSCS protection matters to you right now, Monzo is the safer choice. Both apps offer strong in-app security controls including card freezing, spending limits, and instant fraud notifications.
Monzo consistently ranks at or near the top of UK banking satisfaction surveys, including the FCA's own service quality data. Its in-app chat support is fast and human. Revolut's support is also in-app, but response times and quality have historically been more variable, particularly on the free plan. I have used both apps for extended periods, and Monzo's support interactions have been noticeably more reliable in my experience. Both apps are well-designed and stable, but Monzo's overall customer experience rating is higher.
For a UK resident who wants a dependable everyday current account, Monzo delivers more value on the free tier: better ATM allowances, FSCS protection, and a smoother support experience. Revolut edges ahead for frequent travellers or anyone who regularly moves money across currencies. Neither account has branches, so both require comfort with fully digital banking.
Choose Revolut Current Account
Revolut suits people whose financial lives regularly cross borders. If you travel several times a year, freelance for overseas clients, or send money to family in other countries, the multi-currency wallet and competitive international transfer rates are genuinely useful day-to-day tools. Digital nomads and expats who split time between countries will find Revolut's currency flexibility hard to match on a free plan. Revolut also appeals to users who want investing and crypto access inside a single app. That said, if your main income and spending is in sterling and you rarely leave the UK, Revolut's headline travel features are largely wasted and Monzo is likely to serve you better.
Choose Monzo Current Account
Monzo is the stronger pick for UK residents who want their primary current account to just work, without needing to think about it. People who live paycheck to paycheck will appreciate the salary sorter, spending pots, and instant notifications that make it easy to ring-fence money for bills, savings, and spending. Anyone who has been burned by unexpected bank fees or poor customer service at a legacy bank will find Monzo's transparency refreshing. Students, young professionals, and anyone switching away from a high-street bank for the first time will find the onboarding smooth and the features genuinely helpful. The FSCS protection also makes Monzo a more comfortable choice as a sole or primary bank.
Use both or switch?
There is no rule against holding both accounts at once. Many people use Monzo as their main UK current account, salary recipient, and bill payer, then keep Revolut loaded with a small travel float for trips abroad. The two apps work well in parallel and there is no conflict in having both cards in your wallet.
If you want to switch your main account to Monzo, the UK's Current Account Switch Service (CASS) makes it straightforward. CASS automatically redirects incoming payments and standing orders from your old bank to Monzo within seven working days. Monzo supports CASS fully. Revolut does not currently participate in CASS, so moving your main account to Revolut requires manually updating salary arrangements and direct debits yourself.
Verdict
After looking at both accounts closely, Monzo comes out ahead for the majority of UK users. The FSCS deposit protection, the more generous free ATM limit, and the consistently higher customer satisfaction scores add up to a more trustworthy everyday account. Monzo's budgeting tools are also among the best in the UK market, and the free plan is genuinely useful without needing an upgrade.
Revolut is not a bad choice, and for anyone who travels frequently or deals with multiple currencies it remains one of the most capable free accounts available. The gap in FSCS coverage is the single most important caveat, and it is worth checking Revolut's current UK licensing status before using it as your primary bank. If you are still undecided, open a free Monzo account as your main account and test Revolut alongside it for a month of travel. That real-world comparison tends to make the decision obvious.
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FAQ
For most UK users Monzo is the better everyday account. It has a full banking licence, FSCS protection up to £85,000, higher customer satisfaction scores, and a more generous free ATM allowance. Revolut is better if you regularly spend or transfer money in multiple currencies.
Both are free on their standard plans with no monthly fee. Monzo's paid tier starts at £5 per month; Revolut Plus starts at around £2.99 per month. For most free-plan users the cost is identical at £0.
Monzo holds a full UK banking licence and your money is covered by the FSCS up to £85,000. Revolut received a UK banking licence in 2024 but many UK accounts were still transitioning from an e-money structure in mid-2026, meaning funds may be held in safeguarding rather than FSCS-protected. If deposit protection is important, Monzo is currently the safer option.
Yes. Many people use Monzo as their main sterling account and keep Revolut loaded with a travel float for trips abroad. Both are free to open and there is no conflict in holding accounts with both providers simultaneously.
Both apps are well-designed and reliable. Monzo consistently scores higher in UK banking satisfaction surveys and its in-app customer support is generally faster and more helpful. Revolut's app has a wider feature set including crypto and investing tools, but Monzo wins on day-to-day usability and support quality.
Revolut is the stronger choice for regular travellers. The free plan allows spending in 150-plus currencies at competitive rates, though a 2% fee applies after £200 of free ATM withdrawals per month. Monzo offers up to £400 free ATM withdrawals per 30 days before a 3% charge outside the EEA, which is more generous for occasional trips.
Monzo supports the UK's Current Account Switch Service (CASS). You can initiate a full switch from within the Monzo app. CASS moves your direct debits, standing orders, and redirects incoming payments automatically within seven working days. Note that Revolut does not participate in CASS, so switching your main account there requires updating payment arrangements manually.
The free Monzo account does not pay in-credit interest. Monzo Plus and Monzo Premium tiers include interest on balances held in savings pots. Revolut's free plan also does not pay meaningful interest on current account balances, though some savings vault features are available on paid plans.